jody worked for a company for 30 years before becoming disabled. she planned to retire at 66, but is…

jody worked for a company for 30 years before becoming disabled. she planned to retire at 66, but is currently 63. her final average salary was $60,000. if her plan offers a benefits rate of 2%, what is her monthly benefit? annual benefit = (years worked + expected retirement age - present age) × rate of benefits × final average salary $? round to the nearest whole dollar

jody worked for a company for 30 years before becoming disabled. she planned to retire at 66, but is currently 63. her final average salary was $60,000. if her plan offers a benefits rate of 2%, what is her monthly benefit? annual benefit = (years worked + expected retirement age - present age) × rate of benefits × final average salary $? round to the nearest whole dollar

Answer

Explanation:

Step1: Calculate the value inside the parentheses

$(30 + 66 - 63)$ $=33$

Step2: Calculate the annual benefit

$33\times0.02\times60000$ $=33\times1200$ $ = 39600$

Step3: Calculate the monthly benefit

$39600\div12$ $ = 3300$

Answer:

$3300$